WeWork will replace the flagship Lord & Taylor on Fifth Avenue

WeWork will replace the flagship Lord & Taylor on Fifth Avenue

The chain Lord & Taylor sells its flagship store on Fifth Avenue, which is known for its magnificent festive display. The buyer was a company WeWork, specializing in the creation of coworking.

The building, which boasts a hundred years of history, is divided into two parts. Most of them will turn into the headquarters of WeWork, and a smaller, occupying less than a quarter of the remaining space, will remain behind the store Lord & Taylor. Currently, 10 of the 11 floors of the building occupies a vast store of clothes, shoes and accessories.

WeWork will replace the flagship Lord & Taylor on Fifth Avenue

WeWork target audience are young peoplewho can’t always afford a separate office, and so they prefer to work in coworking. This segment of consumers is a welcome audience for large shops and Department stores such as Lord & Taylor. Manual trading network believes that the store will benefit from this collaboration with WeWork.

Shop Lord & Taylor will operate as usual until the holiday season next year, and that means that this Christmas, as next year, fans consider themed window displays will be inspired with a festive mood for the year ahead. Allegations, will you be creating showcase on at the moment.

Lord & Taylor became the first store in new York, where Christmas Windows began to appear for the beauty and entertainment of citizens and not for the sale of goods. There in 1938, first appeared in showcase with moving ornaments.

The deal, which cost WeWork at $ 850 million, is part of the plan of the owner of stores such as Lord & Taylor, Hudson’s Bay, to reduce its debts and to revive sales. Company representatives did not report how it will look updated shop Lord & Taylor after a drastic reduction of the area.

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